A lot of start-ups in Indonesia with passionate ideas have the desire to scale up quickly, but in reality, ideas do not produce money. Any idea with a final product or service is what start-ups require to survive and get noticed by investors. Turning an idea into a scalable and saleable product requires money, which most start-ups do not have. So, what happens next? This is where venture capitalist (VC) funding comes into play. The funding provided by VC firms are, in essence, investment funds. The firms will give funding to start-ups and at the same time seek private equity stakes in promising start-ups. Although they come with high risk factors, investments are usually supported with analytical prospects of high returns in the future. Here is a list of major VC firms in Indonesia:
Alpha JWC Ventures
Focusing on Indonesia, founders Jefrey Joe, Will Ongkowidjaja, and Chandra Tjan want Alpha JWC Ventures to be a value-adding VC firm with extensive knowledge in fintech and the sustainable consumer sector because they believe in their potential in the country. Combining a world-class local on-the-ground team and a strategic local and global network, Alpha aims to be the best partner for businesses operating in or entering Indonesia. With notable companies like Modalku, Lemonilo, and Style Theory, Alpha is an independent and institutional firm that believes in investing in a disciplined way combined with an active portfolio management approach.
Website: Alpha JWC Ventures
2. Kejora Ventures
Set up in 2008 by Sebastian Togelang and Andy Zain as a platform for industry players to gather and exchange best practices, Kejora now has a portfolio of 29 companies. Aiming to help start-up founders to launch technology companies in large and high-growth market verticals, it provides funding, shared infrastructure, and necessary resources, as well as access to the right network of strategic partners and investors. With notable companies such as Gogonesia, Hipwee, and Jualo, start-ups can make use of Kejora’s extensive experience and expertise to grow at a faster pace.
3. Convergence Ventures
As an early-stage technology VC fund that focuses on tech-based start-ups in Indonesia, Convergence wants to give support to start-up founders by leveraging its vast experience, strategic network, and resources. With strategic partners coming from both the local and global arenas such as China’s Baidu and Singapore’s Garena, founder Adrian Li strives to help start-up companies grow to their full potential. With notable start-ups such as Kata.AI, Moka, and Sale Stock, promising start-ups will be in good hands under Convergence Ventures.
4. GDP Venture
Calling itself a venture builder, GDP Venture focuses on start-ups operating in the space of digital communities, media, commerce, and solutions companies in the Indonesian consumer Internet industry. Founder Martin Hartono combines his passion for gaming and technology as well as extensive experience as Djarum Group’s Business Technology Director to build GDP Ventures. With notable start-ups like IDN Media and Garena, GDP Venture strives to create a healthy ecosystem that produces world-class technopreneurs and start-ups.
Website: GDP Venture
5. East Ventures
As with all other VCs, East Ventures wants to see successful start-ups in Indonesia. With global offices that include Tokyo and San Francisco, East Ventures has invested in hundreds of companies across Asia and the US. Focusing on commerce, social, game, SaaS, and mobile services, founders Willson Cuaca, Batara Eto, and Taiga Matsuyama want East Ventures to provide a strong network across Asia. It is actively involved in community building and capacity building through its coworking space called EV Hive in Jakarta and Tangerang. With a portfolio including Bridestory, Tokopedia, and Groupon, East Ventures might be the most active investor in Indonesia when it comes to numbers of deals.
Website: East Ventures
6. Skystar Capital
Investing in technology start-ups in the Asia Pacific region, in particular Indonesia, at their early and growth stages, Skystar focuses on investing in start-ups in the Internet, mobile, education, media, financial, and e-commerce sectors. Claiming to provide funding assistance, customised and strategic business advice, and networking opportunities, as well as helping investees to scale up their businesses, Skystar Capital also provides start-ups with access to Skystar Ventures, an incubator and co-working space in Indonesia. Founders Abraham Hidayat and William Eka have invested in notable start-ups such as Sweet Escape and Hijup in their portfolio.
Website: Skystar Capital
Founded by serial entrepreneur Andi S. Boediman and Edward Ismawan Chamdani, Ideosource is not only considered the most active VC but also a VC with firm local roots. Looking for companies and enterprises in the domains of online content, media, advertising, e-commerce, payment, and supporting infrastructures in web and mobile technology, Ideosource has stakes in notable companies like Touchten, Bhinneka, and Kapan Lagi Network.
8. Venturra Capital
Venturra Capital is a Southeast Asia-focused VC firm investing in early-stage consumer-technology-enabled Internet businesses. The fund from Venturra Capital focuses on start-up companies working in the consumer Internet space that are ready to expand globally, especially in sectors such as ecommerce, financial technology, marketplaces, healthcare, and education among others. With visionary founders such as John Riady, Stefan Jung, Rudy Ramawy, and notable companies like Sociolla and iPrice in its portfolio, enterprising individuals will have opportunities to grow here.
Website: Venturra Capital
9. 500 Startups
Widely considered as the world’s most famous incubator, Silicon Valley-based VC 500 Startups provides seed funds and acceleration programmes founded by PayPal and Google alumni. Focusing on start-ups mostly in the domain of search, social, and mobile platforms, 500 Startups has grown into one of the most active seed-stage investors in Indonesia, with its first investment in Qraved. Other notable start-ups include HappyFresh and Fabelio.
Website: 500 Startups